22 Businesses Benefit From Small Business Relief Fund
22 businesses were awarded grants valuing ninety-eight thousand, eight hundred ninety-five dollars and eighty-cents ($98,895.80) under the Government of Montserrat’s 2023 Small Business Relief Fund (SBRF).
Speaking at a brief ceremony on Wednesday, Premier and Minister for Finance, the Honourable Joseph Farrell expressed delight at being able to contribute to the development of the private sector.
The majority of these businesses are within the food/beverage sector, creative/craft and media/entertainment.
They will be using the funds to purchase trade-specific equipment, appliances and tools.
Over the next few weeks, the Ministry of Finance will support the awardees to acquire the items approved under their application.
Recipients can also expect to benefit from duty free exemption on the importation of their items as part of the overall programme.
This second round of the Small Business Relief Fund was rolled out in September 2023 with the Government of Montserrat earmarking EC$100,000.00 to aid businesses that continue to cope with the ongoing effects of the global crises on the local economy.
Under the programme, locally registered qualifying businesses had an opportunity to benefit from a maximum grant of $5000.00. In total, eighty-seven (87) applications were received from a wide range of business sectors.
The Premier and Minister of Finance thanks all applicants for their submissions and looks forward to continuing his support to the private sector.